Resource-rich Eurasian countries have faced revenue management problems due to various factors, poor administration and lack of experience among them.
“This is such a disaster for us,” an Azerbaijani citizen told a reporter in December. “How come they decided to bankrupt people in one night?”
In this era of low commodity prices, oil- and mineral-rich governments in Eurasia are under acute financial pressure.
In mismanaged economies, the path to government accountability and sustainability begins with transparency—but there is often resistance along the way. After all, power is at stake.
Just months after Kenya discovered commercial oil in 2012, the government called for the establishment of a natural resource fund (a kind of sov